Paul Darwin, head of intermediary sales at Skipton, said the two products that were withdrawn were base rate trackers.
He said: “We have taken the decision to withdraw these following low demand and a strong market preference for fixed rate BTL products. It simplifies our range and allows us to focus on adding to our already competitive range of BTL fixed-rate products.”
Product Particulars
Skipton has cut rates across its residential and buy-to-let range
It has added a lower LTV 60 per cent options to our BTL range to enhance its offer.
The product range now includes a two year fixed rate at 3.39 per cent up to 85 per cent LTV with a £495 fee
There is a five-year fixed rate mortgage at 4.99 per cent to 90 per cent LTV with a £995 fee.
Adviser view
Daniel Bailey, mortgage broker at Derbyshire-based Middleton Finance said: “We have not tended to do many buy-to-let tracker loans. Most of our clients go for fixed rates in fact we are seeing a trend towards five-year fixes at the moment.”
